Zillow Says New Listings for Homes Fell Off in March, Early April
April 09 2020 - 4:20PM
Dow Jones News
By Micah Maidenberg
Zillow Group Inc. said homeowners have pulled back from listing
properties for sale as the coronavirus has shut down the
economy.
The real estate company on Thursday said new listings on its
platform fell 19% from March 1 to April 5. Total listings rose
2.5%, indicating homes are sitting unsold for longer, according to
Zillow.
In New York City, which has been hit hard by the pandemic, new
listings fell 49% for the period, the company said. They dropped
38% in San Francisco, 43% in Philadelphia and 56% in
Pittsburgh.
"It is clear that many would-be home sellers are adopting a
wait-and-see approach as uncertainty continues to rule," Skylar
Olsen, senior principal economist at Zillow, said in a
statement.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
April 09, 2020 17:05 ET (21:05 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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